What are Peak Reduction Certificates?
Peak Reduction Certificates (PRCs) are tradable certificates under the NSW Government’s Peak Demand Reduction Scheme (PDRS).
1 PRC represents 0.1 kilowatts of peak demand reduction capacity averaged over one hour during the peak summer period.
This aims to encourage peak energy use reduction within peak demand times, to reduce pressure on the electricity grid and in turn reduce energy prices.
How to Generate PRCs.
The current peak period is defined as the hours of 2:30pm to 8:30pm AEDT from September 30th to March 31st each year. For each 0.1kW of peak demand deemed to be saved within this period through an eligible upgrade, 1 PRC may be created.
To generate PRCs, an Accredited Certificate Provider (ACP), such as Ecovantage, calculates the theoretical peak demand reduction from an upgrade, implementation or modification in alignment with scheme requirements to create and register the certificates.
What Organisations do with PRCs.
Once created and registered, PRCs are sold or traded to liable entities, such as energy retailers. This provides an additional revenue source from the project which is often reflected as an upfront discount on the project cost.
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Certificate Services Department.
At Ecovantage, we consistently analyse market activity, creation metrics, policy changes, and consultation releases in conjunction with wider landscape activity.
This allows us to keep our clients at the forefront of all relevant changes, and to leverage the advantage that this presents. Please reach out if you have any project-specific questions.
The PRC Market.
As Australia’s largest Accredited Certificate Provider (ACP), Ecovantage maintains strong market analytics to keep our partners and clients on top of the certificate markets.
Below is the current PRC weekly and 30 day spot price tracking, and our latest PRC market update.
Current Prices | 24 November 2023
- Current Spot Price $1.34 (+$0.04)
- Weekly Volatility in Spot 1.38%
- Percentage Change from Weekly Open to Close Price 3.08%
Market Update | 24 November 2023The PRC spot market saw a welcome increase to $1.34 after several weeks of sideways trading activity at $1.30. While a marginal rise, the market appears to be fluctuating in lower increments on a more request basis as it continues to mature.
Pricing and summary is accurate as of time of publishing. Ecovantage is not liable for any errors or changes in the figures provided.
Receive weekly market updates and up-to-date spot prices delivered to your inbox every Friday.
Australian Certificate Attributes and Recognition
|Certificate||Classification||Representative Of||Attribute Recognised by External Programs?||Purpose|
|ACCU||Carbon Credit||1 Tonne of CO2-e||Carbon||Recognise and Measure Carbon Abatement|
|LGC||Renewable Energy Certificate||1 MWh of Renewable Generation||Renewable Energy||Recognise and Measure Renewable Generation|
|STC||White Certificate||1 Calculated MWh of Renewable Generation||None||Create a Financial Incentive for Small-Scale Renewable Generation|
|VEEC||White Certificate||1 Calculated Tonne of CO2-e||None||Create a Financial Incentive for Energy Efficiency Upgrades|
|ESC||White Certificate||1 Nominal MWh||None||Create a Financial Incentive for Energy Efficiency Upgrades|
|PRC||White Certificate||0.1kW of Peak Demand Reduced||None||Create a Financial Incentive for Peak Demand Reduction|
|REPS||White Certificate||1 Calculated GJ||None||Create a Financial Incentive for Energy Efficiency Upgrades|